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USAID allocates $ 22.7 mln for development of small, medium-sized business

The United States Agency for International Development (USAID) launched Competitive Enterprise project in Kyrgyzstan for the development of small and medium-sized businesses in the regions. Press service of the Parliament reported.

The project budget is $ 22.7 million. Thanks to the help to entrepreneurs, it is planned to create 19,000 jobs and increase the sales of small and medium business enterprises by $ 39 million. In addition, the project faces the task of attracting $ 17 million in loans issued by financial institutions to small and medium-sized businesses that have real development potential.

«We know that these solutions work, because USAID and our partners already successfully use them throughout the country in agriculture, garment industry and tourism,» said USAID Mission Director in Kyrgyzstan Gary Linden.

The project will focus on the sectors of the economy with great potential for growth and creation of new jobs: agriculture and production. In addition, the project plans to invest in industries that are attractive for women and the youth: tourism and information technology. To increase the capacity and co-financing of new small and medium-sized enterprises, created and managed by women and young people, aid and grant support programs will be launched.

The project will work in all areas of the country, directing the main efforts to regions with high unemployment and labor migration.